MORGAN COUNTY ECONOMIC DEVELOPMENT CORP (EIN 351803277) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1990

Legal Domicile

Principal Officer

TERRY BROCK

Phone

3178319544

Tax Period

2023-01-01 to 2023-12-31

MORGAN COUNTY ECONOMIC DEVELOPMENT CORP, founded in 1990, is a small nonprofit that reported $318K in total revenue in fiscal year 2023. Net assets of $773K represent 29 months of operating reserves.

Mission

THE PURPOSE IS TO PROMOTE AND DEVELOP ECONOMIC EXPANSION WITHIN MORGAN COUNTY, INDIANA.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,500

Program Service Revenue $277,000

Investment Income $16,177

Other Revenue $22,443

TOTAL REVENUE $318,120

Expense Breakdown

Grants Paid $0

Salaries & Benefits $180,341

Fundraising Expenses $27,273

Program Expenses $212,160

Other Expenses $159,004

TOTAL EXPENSES $339,345

Year-over-Year Comparison

	2023	2022	Change
Revenue	$318,120	$316,026	+0.0%
Expenses	$339,345	$312,995	+0.1%
Net Income	$-21,225	$3,031	-8.0%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$164,294

Total Directors

$164,294

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL HURST	PAST PRESIDENT	1.00	Director	$0	$0	$0
TERRY BROCK	PRESIDENT	1.00	Officer Director	$0	$0	$0
KELLY ALCALA	DIRECTOR	1.00	Director	$0	$0	$0
TOM WARTHEN	DIRECTOR	1.00	Director	$0	$0	$0
SHANE WILLIAMS	DIRECTOR	1.00	Director	$0	$0	$0
JAMES WISCO	DIRECTOR	1.00	Director	$0	$0	$0
KENNY COSTIN	DIRECTOR	1.00	Director	$0	$0	$0
JEAN RINK	NON-VOTING DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL CONNER	NON-VOTING DIRECTOR	1.00	Director	$0	$0	$0
TRISH WEBER	DIRECTOR	1.00	Director	$0	$0	$0
WADE PHELPS	DIRECTOR	1.00	Director	$0	$0	$0
SHAWNA GIRGIS	NON-VOTING DIRECTOR	1.00	Director	$0	$0	$0
KATHY TAYLOR	NON-VOTING DIRECTOR	1.00	Director	$0	$0	$0
JAMES TANNEBERGER	DIRECTOR	1.00	Director	$0	$0	$0
BUCK RITZ	NON-VOTING DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER ISBELL-SCOTT	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
JEFF BANNING	DIRECTOR	1.00	Director	$0	$0	$0
YUKIHITO OZAKI	NON-VOTING DIRECTOR	1.00	Director	$0	$0	$0
TROY BRYANT	NON-VOTING DIRECTOR	1.00	Director	$0	$0	$0
ROBERT CARMONY	NON-VOTING DIRECTOR	1.00	Director	$0	$0	$0
CINDY KINNARNEY	NON-VOTING DIRECTOR	1.00	Director	$0	$0	$0
BRIAN ANDERSON	NON-VOTING DIRECTOR	1.00	Director	$0	$0	$0
TREG HOPKINS	NON-VOTING DIRECTOR	1.00	Director	$0	$0	$0
JAMIE TAYLOR	NON-VOTING DIRECTOR	1.00	Director	$0	$0	$0
MINDY TAYLOR	NON-VOTING DIRECTOR	1.00	Director	$0	$0	$0
LEEDA WAMSLEY	NON-VOTING DIRECTOR OF BUS	40.00	Officer Director	$47,980	$0	$47,980
MIKE DELLINGER	NON-VOTING EXECUTIVE DIREC	40.00	Officer Director	$116,314	$0	$116,314
MITCH CLINE	NON-VOTING DIRECTOR	1.00	Director	$0	$0	$0
JULIE CREWE-SCHILLING	NON-VOTING DIRECTOR	1.00	Director	$0	$0	$0
KEITH LINDAUER	DIRECTOR	1.00	Director	$0	$0	$0
DUSTIN STANLEY	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
TYLER RENICKER	NON-VOTING DIRECTOR	1.00	Director	$0	$0	$0
BRYAN COLLIER	DIRECTOR	1.00	Director	$0	$0	$0
JAMES STATON	DIRECTOR	1.00	Director	$0	$0	$0
BARRY JACKSON	NON-VOTING DIRECTOR	1.00	Director	$0	$0	$0
JOE MURPHY	NON-VOTING DIRECTOR	1.00	Director	$0	$0	$0
SARAH CADY	NON-VOTING DIRECTOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$318,120	$339,345	$805,293	$-21,225
2022	$316,026	$312,995	$804,945	$3,031
2021	$284,124	$295,636	$763,984	$-11,512
2020	$287,372	$261,706	$758,606	$25,666
2019	$299,006	$261,101	$731,130	$37,905
2018	$266,568	$264,854	$661,976	$1,714

MORGAN COUNTY ECONOMIC DEVELOPMENT CORP